Energy Fuels (NYSE American: UUUU) (TSX: EFR), an industry leader in uranium and rare earth elements (“REEs”) production for the energy transition, has completed the acquisition of Base Resources Limited, which is an established heavy mineral sand (“HMS”) and critical mineral company. The transaction involved the issuing of Energy Fuels shares valued at approximately $178.4 million. The acquisition includes the world-class Toliara Project in Madagascar, which Energy Fuels says is the best critical-mineral-development project in the world.
“With Energy Fuels’ acquisition of Base Resources and its Toliara Project in Madagascar, we have now acquired the raw materials that, when developed, will enable us to become one of the world’s leading suppliers of advanced rare earth products and titanium and zirconium minerals, while also maintaining our current position as a leading producer of uranium in the United States,” said Energy Fuels president and CEO Mark Chalmers in the press release. “We have been putting together the missing pieces of the REE supply chain over the past two years, as we create a large-scale and low-cost critical mineral company based in the United States that produces uranium, rare earth elements, vanadium and soon medical isotopes on American soil, along with titanium and zirconium minerals at our mines in the southern hemisphere.
To view the full press release, visit https://ibn.fm/ZZNyp
About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based critical minerals company, focused on uranium, rare earth elements (“REEs”), heavy mineral sands (“HMS”), vanadium and medical isotopes. The company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy, and owns and operates several conventional and in siturecovery uranium projects in the western United States. Energy Fuels also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the mill, the company also produces advanced REE products and vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The company also owns the operating Kwale HMS project in Kenya, which is nearing the end of its life, and is developing three additional HMS projects, including the Toliara Project in Madagascar, the Bahia Project in Brazil and the Donald Project in Australia, in which Energy Fuels has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The company is based in Lakewood, Colorado, with its heavy-mineral sands operations managed from Perth, Australia. For more information, visit the company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU
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